Indian edtech upGrad has committed 2,150 crore rupees (US$248.82 million) to establish AI excellence centers in Maharashtra.

This initiative, developed with the state government, aims to train over 1 million students in AI and emerging technologies, targeting both urban and rural areas.

The plans include hybrid programs in AI, digital transformation, and gaming.

The agreement was formalized through a memorandum of understanding (MoU) signed by Maharashtra Chief Minister Devendra Fadnavis and upGrad co-founder Ronnie Screwvala at the World Economic Forum in Davos.

In the second phase, upGrad will focus on training 250,000 rural youth and promoting entrepreneurship in underserved regions.

The company, valued at US$2.25 billion after raising US$60 million from Singapore-based Temasek in October 2024, is preparing for a potential IPO by mid-2026.